Home Loan Mortgage

Looking for a lender to help you get a home loan or refinance?
Look no further than RealDealUtah.com

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Technorati Tags: interest rates, Utah home loans, Utah Refinance

http://ventureloanapp.com Refinance your Golden Valley home, Fannie, Freddie, Refi, FHA, VA, Conventional, Making Home Affordable, HARP. Home loan programs, Real Estate, First Time Home Buyer loans. Call Venture Development for the program that will help you refinance your Golden Valley home in this deteriorating market. Declining values are making it hard to refinance. There are new programs that will help the home owner who is on time with their payments. More programs will be coming soon for Subprime and JUMBO.

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Technorati Tags: Fannie Refinance, fha, Freddie Refinance, Golden Valley Home Loan, Golden Valley MN, Golden Valley Refi, HARP, Help for Homeowners, home loan refinance, interest rate, Interest Rate Reduction, IRRL, Making Home Affordable, Minnesota Mortgage, streamline, va, Venture Development Inc.

First Time Home Buyers use FHA Mortgage and Seller Paid Closing Costs to Buy Real Estate Now. Best Market Conditions for Foreclosures and Short Sales in Decades. Go To http://RealEstateMarketingThisWeek.com

Part 7 (Excerpt)

The old rules no longer apply and Suze Ormond should know that.

We have Dan Havey the author of Real Estates Future in the studio today.

Michael, I was just curious, back when I got into the industry many, many years ago there used to be a rule of thumb that if you were going to refinance you had to lower your interest rate by at least two percent and I know as time went along and products changed that really became unnecessary, but I am just curious in todays mortgage market its a lot different than we were dealing with even two years ago. Is that still true that there is a 2% rule? Whats going on now?

I happened to catch Suze Orman on television and she was talking about mortgages, the caller who called in to the program, the question became I believe similar to what Dan just asked, her comment was that basically if you’re in 6% interest rate or above now is the time to re-fi. That is what she said, a blanket recommendation. I know a lot of people put a lot of credence into what she says, maybe you could speak to that, the lowest interest rates you’ve seen in your career, you have been doing this for a while.

I have, and they are. You know there was a lot of speak the last couple weeks about the Fed, the Fed funds rate by the way is the lowest it’s ever been in history. As of this week the discount rate is to the point that banks are lending money to each other at nothing, the Fed funds rate for intrabank lending is at zero, the problem is the banks don’t have any money.

To be serious about the refinancing, because its a serious topic, I think people are starting to see their mail boxes filled with lots of advertising crap about refinance. I believe that doing the refinance is no different from doing a loan modification or buying a house, you need to sit down with the human being that’s local, that you can know is a legitimate source. You’re going to give all this personal information about you, your family, your kids, your Social Security number, you want to make sure you have somebody there that you know whos legit.

In regard to the old rule of thumb 2%, nothing could be further from the truth, and I will expand, but to the point of Ms Ormond that if youre at 6% or higher, that is a blanket statement and blanket statements never work. We just did a refinance for a guy who was at 5 1/2%, and it makes sense. Every situation is different, as far as how much do I have to lower my interest rate to make it work? It depends on the type of mortgage that you get.

The only type of loan to get today in December of 2008 is a 30 year fixed. I know that one of the things that was really interesting to me, and that you and I have referred clients to one another for several years, so we share a number of clients, were familiar with those families and those households, and this is Wednesday, on Monday and Tuesday of this week I’ve had seven phone calls from clients who you’ve already done loans for, refinances for, asking if this is the time to refinance a loan that is only a couple years old.

And I know in several of those cases the answer is yes you’re actually helping families right now with that process. I am and we do. To answer the question, you need to determine what the payback term is, in other words when your refinance is done it’s a new loan, there’s the title insurance, appraisals, lots of different things may need to be done, not in every case, but in most cases there are costs associated with that. The cost has to be offset by the amount of savings. Its a breakeven analysis

Absolutely it is, the shorter the breakeven the better the loan. I am working on a case right now which is going to be done in the next couple of days where the guy lowered his interest rate by an1/8 of a percent and it made sense for him. It’s not for everybody, 2 percent or lower, 2% is significant, now you’re talking about really significant savings in terms of cash flow…

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Gene Mills, president of CB&T Mortgage in Colorado Springs, explains what it means to refinance your home mortage loan and gives tips on how to know when is the right time for you to refinance.

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Technorati Tags: CB&T Mortgage, Central Bancorp, Gene Mills, mortgage education, mortgage loans, mortgage rates, Mortgage video, refinance, refinance rates, refinancing a mortgage, Step by Step Mortgage, Understanding Mortgage

For more information visit http://www.North-ScottsdaleRealEstate.com

The Government announced that they are extending the Making Homes Affordable Program, which was set to end on June 10th, 2010, to now run through June 30th, 2011. The program was designed to help 4-5 million homeowners. It has only helped 220,000 the program does not work because current market values are significantly lower than the writers of the program foresaw. While they are updating the expiration of the program, they should also address the requirement that the first mortgage has to be less than 125% of the current market value.

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Technorati Tags: Making Homes Affordable, North Scottsdale Real Estate, Steven Stillwater, Taylor Lapidus, The Precision Team

passed on 3-5-2009 this legislation helps good borrowers with limited equity and also borrowers needing to modify their loans. 704-542-8057

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Technorati Tags: Falling Home Values, home affordable, low mortgage rates, modifications

The source for today’s refinancing information. http://homerefinanceratestoday.com

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Now may be the time for you to jump off the sidelines, and refinance your mortgage as rates are near all-time lows, leaving lenders swamped with people trying to refinance. KXLY4’s Tori Brunetti reports.

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Refinancing a home saves money when the current rates are low. Refinance a home and save money using the real estate tips in this free video.

Expert: Richard Blake
Bio: Richard Blake is a licensed real estate agent that has closed more than 20 times the number of transactions per year than that of the average realtor for the last three years.
Filmmaker: Christopher Rokosz

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Technorati Tags: investment property, real estate, real estate tips

Let’s talk about the Making Home Affordable Refinance program just rolled out by Obama’s Administrations. It’s designed to help you refinance into a lower interest rate even if your home value would normally disqualify you from doing this.

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Technorati Tags: Affordable, home, Making, Making Home Affordable, refinance